Asbury Automotive Group (NYSE:ABG) Given New $260.00 Price Target at JPMorgan Chase & Co.

Asbury Automotive Group (NYSE:ABG) had its price target decreased by JPMorgan Chase & Co. from $265.00 to $260.00 in a research note published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities research analysts also recently commented on the company. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $190.00 to $240.00 in a report on Wednesday, September 25th. Bank of America lowered their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Craig Hallum lifted their price objective on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Stephens initiated coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price on the stock. Finally, StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $256.20.

Asbury Automotive Group Stock Up 0.4 %

Shares of NYSE ABG opened at $260.14 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The firm has a market cap of $5.10 billion, a PE ratio of 14.72 and a beta of 1.16. The company’s fifty day simple moving average is $230.12 and its 200 day simple moving average is $232.47. Asbury Automotive Group has a 12-month low of $195.09 and a 12-month high of $277.13.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the company earned $8.12 EPS. Asbury Automotive Group’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Asbury Automotive Group will post 25.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Asbury Automotive Group news, CEO David W. Hult sold 500 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total transaction of $113,590.00. Following the transaction, the chief executive officer now owns 56,834 shares of the company’s stock, valued at $12,911,548.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David W. Hult sold 500 shares of Asbury Automotive Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total transaction of $113,590.00. Following the sale, the chief executive officer now directly owns 56,834 shares in the company, valued at $12,911,548.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the transaction, the insider now owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Institutional Trading of Asbury Automotive Group

Several hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in Asbury Automotive Group in the 3rd quarter worth about $31,000. Quarry LP purchased a new position in shares of Asbury Automotive Group in the second quarter worth about $38,000. GAMMA Investing LLC raised its position in shares of Asbury Automotive Group by 100.0% in the second quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after purchasing an additional 146 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Asbury Automotive Group during the 2nd quarter valued at approximately $155,000. Finally, Headlands Technologies LLC bought a new position in Asbury Automotive Group in the 2nd quarter worth approximately $190,000.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.